Expectations Of A Loan Modification - Process On Lowering Your Mortgage Payment

- September 2, 2010, 6:09 am

The first thing I want to share is that getting a loan modification is not an overnight process. There are multiple stages, and many people that must get involved to have a completed loan modification package. Due to market changes banks/lenders have added more people and more divisions to their already overwhelmed business structure. Mass confusion on the lenders side of the equation is a daily issue. Terms, guidelines, process flows, and even employees at these big banks change frequently. It is the job of the Performance Loan Repair and loan modification processor to keep up with all the changes that banks implement. Our back-end system is a sophisticated tracking program that will show all communication with the lenders; faxes, emails, and phone calls (inbound & outbound). We track

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